RDA Financial Network Sells 290 Shares of Micron Technology, Inc. (NASDAQ:MU)

RDA Financial Network decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,036 shares of the semiconductor manufacturer’s stock after selling 290 shares during the period. RDA Financial Network’s holdings in Micron Technology were worth $833,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MU. Atria Investments Inc raised its stake in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares during the period. Aspect Partners LLC raised its position in shares of Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the period. Revolve Wealth Partners LLC grew its stake in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MU shares. Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. UBS Group lowered their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Susquehanna lowered their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Performance

NASDAQ:MU traded down $4.72 during mid-day trading on Tuesday, reaching $103.62. The company’s stock had a trading volume of 16,887,141 shares, compared to its average volume of 22,268,221. The firm’s fifty day moving average price is $97.12 and its two-hundred day moving average price is $114.78. The stock has a market cap of $114.90 billion, a P/E ratio of -73.09 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.21) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.